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Enron Mail |
Ken Lay wrote:
Mr. Bryce: I have no suggestions at this time. Ken Lay Toby Bryce <bryce@juno.com< on 03/30/2001 02:37:23 PM To: bryce@juno.com cc: kenneth.lay@enron.com Subject: Re: Board opportunity Mr. Lay, ? Your assistant contacted me a couple weeks back with the message that the attached was not an opportunity you could consider at this time.? Thanks very much, though, for taking a look at it. ? I have one follow-up question for you -- could you recommend another Enron executive that might be a candidate for such an opportunity?? ? To help you answer the question, the company is Juno Online?Services, Inc.?(NASDAQ: JWEB), a leading US ISP.? Juno is very interested in working with (and in advanced-stage discussions with) companies in the energy industry and working with them on strategic telecommunications and marketing partnerships. ? Information about Juno is available at "About Juno" on Juno's Web site http://www.juno.com.? I've also attached an executive summary to update you (or the relevant person at Enron) as to the current status of Juno's business. ? Thanks very much for your assistance, and I hope that this message finds you well. ? Best, ? Toby ? Executive Overview of?Juno -- The company finished 4Q00 w/ $56MM in cash.? Total net loss for 2001 was projected to be $10-$25MM, as the company focuses on billable services, continues to reduce expenses, and looks to develop advertising and other ancillary revenue streams.? The company is confident that it can meet or?beat the loss target and made explicit statements that on-hand cash resources are "more than adequate" to get the business profitable.? The company has not publicly given a time-line for profitability to maintain flexibility. The company controls one of the largest dialup subscriber audiences (4MM active subscribers as of 4Q00, 850K of whom are billable) on the Internet today and is the 4th largest US ISP (after AOL, ELNK, and MSN). 2000 revenue came in at $114MM, 65% of which was derived from subscription fees and 35% from advertising.? 2001 revenues are expected to come in between $100MM-$120MM, with the revenue mix moving toward 80% subscription and 20% advertising due to increased focus on billable services and the soft Internet advertising markets. Juno has announced broadband agreements for its Juno Express product covering all mainstream broadband transport platforms -- AT&T Broadband, Time Warner Cable, and Comcast (cable); Covad (DSL); Hughes (satellite); and Metricom (wireless). The company has announced wireless distribution agreements for it's Juno Mobile product with Palm and Sprint PCS.? Other agreements are likely to be forthcoming. The company has powerful propietary technology assets that give it a competitive advantage.? The company has launched (internally but not publicly) a new business unit -- Juno Solutions -- to investigate the opportunity to license these technology assets to third parties both domestically and internationally.? The Juno Virtual Supercomputer Project represents another example of Juno's efforts to develop ancillary revenue streams.? This distributed computing initiative aims to leverage unused computer processing power from Juno's MMs of subscribers, aggregating it for sale to biotech, pharmaceutical, and computational chemistry firms.? http://www.juno.com/corp/news/supercomputer.html ============= Toby Bryce (347) 200-0882 bryce@juno.com ============= ? On Wed, 14 Mar 2001 16:52:52 -0500 Toby Bryce <bryce@juno.com< writes: < Mr. Lay, < < I am contacting you (per instructions of Rosalee) with a director < opportunity with a NASDAQ-listed Internet media firm.? The NYC-based < firm had $114MM in revenue in calendar 2000 and made strong < statements with its most recent (4Q00) earnings statements that < management believes that on-hand cash resources are "more than < adequate" to get the business profitable.? The company is < well-positioned to both survive and profit from the current < difficult market and as such could make for an interesting < opportunity for you. < < I am working on this recruiting project as an independent consultant < for the company and would be happy to tell you more specifically < about the opportunity should you be interested in concept.? You can < reach me via e-mail at this address (bryce@juno.com) or < telephonically at (347) 200-0882.? < < I hope that this message finds you well, and I look forward to < hearing from you at your convenience. < < Best, < < Toby < < ============= < Toby Bryce < (347) 200-0882 < bryce@juno.com??? ?
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